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Inland Empire's Economy Thriving with Strong Job Growth and Growing Industries

Inland Empire's economy is experiencing rapid growth, with record levels of job creation and a thriving industrial sector. The region's population, job market, and income levels are all on the rise, making it an attractive place for businesses and residents alike. This article explores the various sectors driving the region's prosperity and the challenges it faces in terms of poverty and healthcare.

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Inland Empire's Economy Thriving with Strong Job Growth and Growing Industries

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  1. Inland Empire Prosperity . . . John Husing, Ph.D. Economics & Politics, Inc. Chief Economist, IEEP

  2. After Losing 8.71 Million Jobs … Now At A Record Level of JobsU.S. Jobs Long Slow Growth - Not Over-Heating

  3. 18.0% 10.6% 8.6% 4.3%

  4. Interest Rates Remain Low Fed Plans To Sell Off Balance Sheet … Raise Long Term Rates 3.90% 2.23%

  5. California Job Gains/Losses Up 1,368,852 8.6% Up 2007 15,848,033 2017e 17,216,885 Recovery 2,576,300 Great Recession -1,178,600

  6. Inland Empire Population Greater Than 25 of 50 States

  7. Inland Empire Economy Gaining Strength! 46,600

  8. Job Quality

  9. Job Growth by Region

  10. Inland Empire Growth was the 2nd LargestAbsolute Job Gain in California in 2016!

  11. Unemployment Rates

  12. The Issue: Poverty

  13. Median Household Income

  14. Gold Mine Theory Secondary Tier Primary Tier

  15. Educational Challenge For Adults & Their Children

  16. Health Care

  17. Residents Per Health Care Worker 27.1%

  18. Potential Impact On Health Care Demand & Quality of Life -55.2% Drop in Uninsured

  19. Health Care Jobs: Continuous Growth • 2011-2017 • 10.8% of Job Growth • Median Pay $60,768 Inland Empire’s Best Sector for Higher End Jobs

  20. Sophisticated Warehousing Operations

  21. Value of the Dollar:Helps Imports & Hurts Exports 100.0 2012-2016 16.3%

  22. Port Container VolumesOn Pace For Record Levels

  23. Net Industrial Space Absorption 15.9 million

  24. Industrial Vacancy Rate 3.3%

  25. E-Commerce Growth RatesYear Over Year by Quarter 1.1% 16.2% 8.9%

  26. Industrial OverwhelminglyIn The Inland Empire

  27. Industrial Asking Lease Rates Soaring Up 17.5% Up 70.0%

  28. ONT Airport Cargo Headed for a Record 13.9%

  29. Logistics Powerful Job Growth • 2011-2017 • 20.6% of New Jobs • Median Pay $46,708

  30. Manufacturing: Should Be A Major Growth Source

  31. California Manufacturing Job GrowthJust 5.5% of U.S. Growth

  32. Inland Empire Manufacturing Jobs • 2011-2017 • 5.2% of Job Growth • Median Pay $51,385

  33. Construction: Finally Coming Back

  34. Inland Empire Home Sales

  35. Inland Empire Home Prices -1.2% -15.6% IE Conforming Loan Limit: $424,100 LA/OR are $636,150 -112%

  36. Long Term Competitive Price Advantage Greater Than Ever

  37. Inland Empire Homes Cheaper By$249,000 to $418,000 vs. Coastal Cos.

  38. Little New Home Inventory Supply

  39. Mortgage Market Has Stabilized …Low Numbers of Notices of Default

  40. Apartment Rental Rates & Vacancies. Inland Empire $1,601 4.3% San Diego $1,873 2.2% Orange$2,059 3.9% Los Angeles $2,271 3.7% Source: CB Richard Ellis

  41. Inland Empire Construction Jobs • 2011-2017 • 15.7% of Job Growth • 30.3 % Share in 2017 • Median Pay $52,604

  42. High Paying Sectors Ahmad Adel Al-Khatib Jack Dangermond

  43. BA or Higher

  44. Office Market Net Space Absorption 571,313

  45. Office Market Vacancies Improving 24.2% 11.6% E-Commerce An Issue

  46. Office Asking Lease Rates Down -6.2% Up 14.9%

  47. ONT Airport Passengers Growing 6.9%

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